Under current legislation, as set out in the Consumer Protection from Unfair Trading Regulations 2008, estate and letting agents have a legal obligation not to omit material information from property listings. But current practices around disclosure are not consistent across the industry.
For most people, the journey to buying or renting a new home – one of the biggest purchasing decisions that a consumer will make in their lifetime – begins with an online search on property portals. But for too many, finding out material information about a property after entering into a property transaction can be devastating, causing significant emotional and financial distress.
That’s why we’re working with portals – and industry more widely – to ensure more material information is made available on property listings so that consumers can make informed decisions and agents can meet their legal requirements at the very beginning of the consumer journey. This will provide greater clarity and consistency across the industry, saving agents time and money on wasted enquires and legal disputes while protecting consumers from nasty surprises.
For more information please visit Material Information on the rightmove info hub.
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